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The rupee slid about 2.4% since the end of December, falling to 71.515 per dollar on February 18, 2019, and becoming the weakest Asian currency this year. Rising crude prices and tensions in Kashmir after a suicide bombing weighed on sentiment, and Indian stocks posted their biggest weekly loss in four months.
Higher oil prices and political risk keep the dollar strong against the rupee, raising India's cost of imported feed inputs. Analysts warned the rupee could weaken further if tensions escalate.
moneyweb.co.zaKartik Goyal, BloombergFeb 18, 2019Not enough comparable past events yet for a historical read.
After 323 past bullish macro events, Crude Oil (Brent) moved a median +0.7% over 5 sessions (58% higher; middle half -2.9% to +3.7%), and +1.3% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
